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jodiforrest · Posted: Mon Sep 14, 2009 10:24 pm Post subject: Hi from the UK

Hi everyone,

I'm Jodi. I have been wanting to open a t-shirt business for some time now and I think I'm ready to launch it. Kinda scared. I will be selling vintage tees, baby tees, retro tees, and anything else my twisted mind can come up with! I'm hoping to get a little advice here on this forum to make this as smooth of a journey as possible. Bumps are inevitable, but I'm hoping to minimize them!
Shocked

Thanks,
Jodi

Pauloz · Posted: Tue Sep 15, 2009 1:07 am Post subject:

jodiforrest

Yeah, there's a bit of a learning curve involved in running your own business. For Tees, it's also a matter of knowing the market.

Some bumps are avoidable:

Get some training at a community college about business management, preferably to certificate level. This isn't difficult stuff, and it doesn't take long, but it's essential. There are three reasons to do this:

1. Your record keeping, your peace of mind, your bank and your tax return will require it. It's actually pretty straightforward in theory, but in practice it has to be done properly, for you own sake. If you issue a receipt to a wholesaler or a retailer, it's all business.

You'll have a bit more confidence in doing business, and you'll also pick up some contacts to ask if you have problems. That's extremely important, so you don't have to both guess and worry at the same time when you hit bumps.

Later on down the track, if you have to put together a business plan, you also get taught how to do that. This training explains a lot of the things we take for granted, and explains how things like audit trails work. It's also quite a useful qualification if you want to do business studies later.

2. Figure out in advance how to keep your costs and overheads down. This is another essential, and why you need training to make sure you know how to do that. Most businesses fail because they can't balance outlays and income. They fall over because of things like basic rent, etc., or they don't recognize when something's not working, and persist until it's too late to dodge the bullets.

Don't take on any financial commitments until you're sure you've got them fully covered. Even something as simple as getting a special deal on raw tees, if you buy a certain number, has to be costed in advance, and not turn into a bill or a cost when you don't want one. You're safer with things where you can pay upfront, particularly in the early stages when cash is slower.

3. Keep an eye on your break even point. Training will show you how to recognize potential bumps. This is the real bottom line for any business, and it's like a thermometer, telling you where you're at, at any given moment. The break even point on each individual item is also a good measure of what's working and what isn't. Ditch anything that isn't performing.

The Tee industry is huge, and sometimes hard to fathom. What you require are:

1. Good ordering facilities and outlets. A website is a very cheap, very simple way of doing business, and some of the order and payment software, like PayPal, is pretty easy to operate. (Check your handling costs for shipping tees, and also check out prices for any online stores, etc.)

2. A thorough knowledge of distribution and distributors. Know how to get your tees to as many good sales points as possible.

3. Advertising and marketing in the right places. You may need some graphics, so shop around for a good price. This exposure has to be at points of sale, too, (see below) so you may need a few spare tees for displays, etc.

4. Unique items, which are like magnets, and do their own marketing. You'll have heard of the "unique selling point" (USP) concept. When it comes to clothes, particularly tees which are supposed to be individualistic, the USP issues are design, color, and quality. People want to look unique. It's the "show off factor" in clothing. You can also charge more for the really good, really different stuff, and your customers won't even blink.

5. Cost effective sales methods. Just sitting there selling one tee at a time yourself isn't cost effective. You need multiple outlets. You can place tees on consignment with some retailers, and that not only creates a selling point, it also gives your tees some exposure. You could drop of 50 tees at X price, the retailers get X+50p, or something, and you have new places to sell. This is also a very cheap, very simple way of doing business without having to handle sales yourself, so it's very cost effective.

You'll be pleased to hear that a lot of good tee businesses started out with a few tees and a few ideas. Success does happen, if you get the basics right.

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